Cross River State, located in the South-South region of Nigeria, is famous for its rich culture, beautiful landscape, and economic potential. With its capital in Calabar, the state is home to a diverse population and a wide range of natural and human resources. While not one of the top oil-producing states anymore, Cross River continues to thrive in sectors like tourism, agriculture, real estate, hospitality, and politics.
In recent years, Cross River has witnessed a quiet but significant rise in the number of high-net-worth individuals who have amassed wealth through politics, business, entertainment, and industrial ventures. These billionaires are not only contributing to the state's economy but are also playing key roles in philanthropy, job creation, and community development.
In this post, we present the top 10 richest men in Cross River State in 2025, highlighting their estimated net worth, industries, and how they became economic powerhouses in the state.
1. Donald Duke – Estimated Net Worth: $10–15 Million
Donald Duke is one of the most respected figures in Cross River State. He served as Governor from 1999 to 2007 and is widely credited with transforming the state’s tourism sector. Under his administration, Cross River became a top travel destination, thanks to landmark projects like the Obudu Mountain Resort, the Tinapa Business and Leisure Resort, and the Calabar Carnival, Africa’s largest street party.
Beyond politics, Donald Duke has investments in real estate, tourism consultancy, and media. His post-governorship engagements in international tourism development and infrastructure have contributed significantly to his wealth.
2. Senator Liyel Imoke – Estimated Net Worth: Billions of Naira
Senator Liyel Imoke succeeded Donald Duke as Governor of Cross River and served from 2007 to 2015. Before that, he was Nigeria’s Minister of Power and Steel. Imoke comes from a wealthy and influential family and has built on that legacy with investments in real estate, agriculture, and infrastructure development.
He owns multiple properties in Calabar, Lagos, and Abuja and maintains interests in several companies that manage construction and consulting contracts. His philanthropic focus includes youth empowerment, education, and leadership training.
3. High Chief Edem Duke – Estimated Net Worth: Billions of Naira
A seasoned entrepreneur and former Minister of Tourism, Edem Duke has made significant contributions to Cross River’s tourism and hospitality sector. He owns several hotels and resorts in Calabar and other cities, playing a vital role in boosting the state’s appeal to tourists and investors.
High Chief Duke also owns media ventures and promotes cultural preservation through festivals and events. His investments have created numerous jobs in hospitality and media across the state.
4. Chief Emmanuel Ibeshi – Estimated Net Worth: Billions of Naira
Chief Emmanuel Ibeshi is a political veteran turned business mogul. He began his career in politics but shifted into the oil and gas servicing sector where he found major success. His companies provide logistics and consultancy services to major oil firms operating in the Niger Delta region.
Beyond oil and gas, Ibeshi has interests in real estate and infrastructure, and he continues to be a vocal figure in community development and advocacy.
5. Prince Orok Duke – Estimated Net Worth: Billions of Naira
Prince Orok Duke is a highly respected businessman, politician, and traditional titleholder. He has a strong presence in real estate development across Cross River, particularly in Calabar, where he owns several commercial and residential buildings.
His construction company has handled multiple government and private-sector projects. Known for his philanthropic activities, Prince Duke has initiated housing schemes for low-income earners and donated to health and educational causes.
6. Ubi Franklin – Estimated Net Worth: Billions of Naira
Born and raised in Cross River State, Ubi Franklin rose to fame in the Nigerian entertainment industry. As the founder of Made Men Music Group (MMMG), he helped launch the careers of top Nigerian artists such as Tekno and Iyanya. His business acumen has seen him expand into real estate, tech startups, and brand consultancy.
Ubi Franklin is also a political appointee and special adviser in the current administration. His influence and diversified investments make him one of the youngest and most dynamic billionaires from Cross River.
7. Chief Asuquo Ekpenyong – Estimated Net Worth: Billions of Naira
Chief Asuquo Ekpenyong is a financial and business strategist with strong roots in Cross River. He has held various executive roles in leading banks and currently runs a financial services and investment firm. His areas of interest include real estate, fintech, and agriculture.
Ekpenyong has played a major role in attracting private investment into Cross River’s rural areas through agribusiness initiatives. He is also recognized for mentoring young business professionals and offering business grants to local entrepreneurs.
8. Eyo Etim Nyong – Estimated Net Worth: Billions of Naira
Professor Eyo Etim Nyong is a geologist, engineer, and oil industry expert. He has served on the boards of multiple oil companies and was once a federal appointee in the petroleum sector. His business ventures include oil exploration, oilfield services, and real estate.
Nyong has used his wealth to support education and medical outreach programs in riverine communities across Cross River. He is also involved in consulting and mentoring for upcoming engineers and entrepreneurs in the state.
9. John Owan-Enoh – Estimated Net Worth: Billions of Naira
A former senator, John Owan-Enoh has successfully merged politics with business. He owns large agricultural farms that produce cassava, maize, and poultry for domestic and international markets. His farms employ hundreds of people, especially in rural communities.
Owan-Enoh also invests in logistics and food processing. He’s a strong advocate for food security and agricultural education, regularly sponsoring training and extension services in farming communities.
10. Senator Florence Ita-Giwa – Estimated Net Worth: Billions of Naira
Popularly known as “Mama Bakassi,” Senator Florence Ita-Giwa is a political icon and wealthy businesswoman. She has served in various legislative and advisory roles and has used her influence to invest in real estate, oil block royalties, and hospitality ventures.
She owns several properties in Calabar and Lagos and is an advocate for displaced people and women’s rights. Her humanitarian work includes building shelters, running empowerment programs, and offering scholarships to children from the Bakassi region.
Conclusion
Cross River State may not rank among Nigeria’s top oil-producing states, but its sons and daughters have proven that wealth can be created through smart investments, entrepreneurship, and public service. The top 10 richest individuals in Cross River have made their mark in diverse sectors such as tourism, oil and gas, real estate, agriculture, entertainment, and politics.
What unites them is not just their impressive net worth, but their contributions to community development, job creation, and philanthropy. As the state continues to grow, these billionaires are likely to remain key players in shaping its economic and social future.
